Hi Property Lovers
I came across this article on Australian Property Inspector which i thought was a good indication of what is to come.
The number of Australians intending to invest in property has almost doubled in the past year, according to new research from Resi Mortgage Corporation.
With big rent increases and strong capital gains expected for 2010, wannabe investors intend to act earlier rather than later, said Resi Mortgage Corporation consumer advocate Lisa Montgomery.
"People are noticing that yields are high and property has returned to being the 'new black' to invest in. Confidence is out there," said Montgomery.
Meanwhile Australian Property Monitors (APM) expects rent increases of up to 11 per cent in 2010, following little growth in 2009.
"An improving employment outlook means, overall, renters will be more willing and able to afford rental increases," said APM economist Matthew Bell.
The combination of housing shortage and the sharemarket crash has provided good incentive for property investment, said Bell.
However while rents and price growth increase, it's important not to overlook rising interest rates and land tax, he said.
But according to Portfolio Management Services investment specialist Jock Bing, "the supply and demand gap is only expected to widen further during 2010".
This information was gathered from:
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